PROPERTY TAX CODE DEFINITIONS

SB 149 amends New Mexico's Property Tax Code to clarify the definition of "residential property." It explicitly includes manufactured homes used for permanent habitation as residential property, while excluding temporary structures like hotels and motels. This change directly affects manufactured home owners by classifying their properties under residential tax rates instead of potentially higher nonresidential rates. The bill makes a technical adjustment to tax classification rules without creating new taxes or exemptions.